NCR: IIFL Realty invests in Faridabad after Gurgaon and Mumbai

IIFL Realty, invested Rs. 75 Cr. out of a total fund of Rs 700 Cr. from IIFL Domestic Series 1 for a developmental project of plots in Faridabad to be developed by Assotech Ltd.

Furthermore, as reported by Deal Curry, last year, IIFL also invested around Rs. 115 Cr. in two residential projects. One of these is in Mumbai while the other is in Gurgaon.Ã‚Â Out of Rs. 115 Cr, around Rs. 80 Cr were invested for its Gurgaon project while the remaining was invested in its Mumbai project in Chembur.

Media reports are considering the interest of developers like BPTP, DLF, SRS, Omaxe and Ansals etc. as a big step towards real estate growth in Faridabad,

Favista’s view: While the involvement and interest of some prominent developers is bound to be fruitful for real estate development in Faridabad, it is still a long way to match the lucrative real estate market of Gurgaon in NCR.